Hexcel price target lowered to $69 from $78 at BMO Capital

BMO Capital lowered the firm’s price target on Hexcel to $69 from $78 and keeps a Market Perform rating on the shares. The firm is reducing its FY24 EPS view to $2.12 from $2.49 to reflect rising cost pressure and challenging narrow-body aircraft market, the analyst tells investors in a research note. The 787 troubles will mute near-term top-line recovery for Hexcel, keeping earnings depressed and investors on the sidelines, the firm added.